Excise Duty : Central Excise duty on Jewellery though introduced initially for branded Jewellery and later extended to all Jewellery was subsequ...
Excise Duty : The practice prevalent in jewellery industries in India on charging for wastages from the customers along with the cost of jewelle...
Excise Duty : ER8 is a quarterly Return for production and removal of goods and other relevant particulars. The excel utility can be used for cr...
Excise Duty : This write up is to update you on the recent developments on applicability of Excise on Gems and Jewellery Industry. On the basis ...
Excise Duty : In this year’s Budget, a nominal excise duty of 1% [without CENVAT Credit on Capital Goods and Inputs] and 12.5% [with CENVAT Cr...
Excise Duty : Government accepts the recommendations of Sub-Committee of the High Level Committee to interact with Trade & Industry on Tax Laws ...
Excise Duty : The publication Central Excise Law and Procedure for Jewellery Industry has been brought out by Indirect Taxes Committee of ICAI t...
Excise Duty : Government constitutes a Sub-Committee under the aegis of the High Level Committee (HLC) on issues related to excise duty on diffe...
Income Tax : There is no requirement of declaring pre-budget stocks. Directions have also been issued barring any visits to the jeweller’s p...
Excise Duty : In this year’s Budget, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed...
Excise Duty : In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Gove...
Excise Duty : Specification of 17th August, 2016 as the date on which clause (v) of rule 5 and rule 6 of Central Excise (Amendment) Rules, 2016 ...
Excise Duty : a) Annex I - contains a brief summary of the amendments made vide various notifications to the existing Tariff and Non-Tariff noti...
Excise Duty : i. All jewellery manufactured and removed, on or before February 29, 2016, from the premises of the job workers or any other premi...
Excise Duty : i. No transit checks shall be carried out by the excise officials for checking movement of semi-finished or finished articles of j...
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 2/2011-Central Excise, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. 117 (E), dated the 1st March, 2011.
Central Excise duty on Jewellery though introduced initially for branded Jewellery and later extended to all Jewellery was subsequently withdrawn due to pressure from the industry.
The practice prevalent in jewellery industries in India on charging for wastages from the customers along with the cost of jewellery without delivering the actual recoverable wastages has not been looked into.
ER8 is a quarterly Return for production and removal of goods and other relevant particulars. The excel utility can be used for creating the XML file for efiling of your returns. The Efilling Excel Utility is an Excel Workbook that consists of four worksheets and are dynamic.
Specification of 17th August, 2016 as the date on which clause (v) of rule 5 and rule 6 of Central Excise (Amendment) Rules, 2016 notified by Notificaton No. 8/2016- Central Excise (NT) dated 1st March, 2016, shall come into force
This write up is to update you on the recent developments on applicability of Excise on Gems and Jewellery Industry. On the basis of Circular No.1040/28/2016-CX to No.1045/33/2016-CX; and Notification No.’s 26/2016-Central Excise to 29/2016-Central Excise; No.’s 33/2016-Central Excise (N.T.) to 40/2016-Central Excise (N.T.) dated 26 July,2016 issued by Central Board of Excise and Customs,
a) Annex I – contains a brief summary of the amendments made vide various notifications to the existing Tariff and Non-Tariff notifications and issuances of new rules namely the Articles of Jewellery (Collection of Duty) Rules, 2016. b) Annex II – contains a brief summary of clarifications and instructions issued by way of circulars.
i. All jewellery manufactured and removed, on or before February 29, 2016, from the premises of the job workers or any other premises where such articles of jewellery were manufactured, and (a) lying at different premises (including branches) of the principal manufacturer, or
i. No transit checks shall be carried out by the excise officials for checking movement of semi-finished or finished articles of jewellery. ii. Visits, search of the premises of a manufacturer or principal manufacturer of articles of jewellery, issue of summons, seizure, arrest and prosecution may be initiated only when there is a clear reason to believe that there is an act of evasion, formed at the level of Commissioner or an equivalent rank officer.
A manufacturer or principal manufacturer of articles of jewellery may also do trading of articles of jewellery from his central excise registered premises. No excise duty will be payable on the sale of traded articles of jewellery [on which appropriate excise duty, including nil duty, has already been paid].
